NSEs Market Capitalisation Plunges by N61 Billion

Price losses outweighed gains on the equity sector of the Nigerian Stock Exchange (NSE) yesterday, as most blue chip stocks depreciated in price, causing market capitalization to plunge by N67 billion.

Yesterday, 22 stocks depreciated in price, as Nigerian Breweries emerged the day’s highest price loser with 4.50 kobo to close at N134.00 per share while Forte Oil followed with 3.89 kobo to close at N40.00 per share.

Flour Mills shed 1.74 kobo to close at N33.15 per share. Zenith Bank lost 0.74 kobo to close at N24.24 per share. Guaranty Trust Bank shed 0.59 kobo to close at N42.01 per share.

Stanbic IBTC dropped 0.20 kobo to close at N42.40 per share. May&Baker lost 0.10 kobo to close at N2.72 per share. Caverton, and FBN Holdings each depreciated by 0.07 kobo to close at N1.25 and N6.93 per share respectively.

United Capital lost 0.04 kobo to close at N3.23 per share. Law Union&Rock also depreciated by 0.03 kobo to close at N0.59 per share.On the other hand, 19 stocks constituted the gainers’ chart, led by Nestle Nigeria with 5.26 kobo to close at N1,261.16 per share. Okomu Oil followed with 2.19 kobo to close at N68.20 per share.

International Breweries added 0.85 kobo to close at N51.70 per share. Unilever appreciated by 0.80 kobo to close at N37.80 per share. Guinness garnered 0.75 kobo to close at N101.00 per share.

Dangote Sugar Refinery added 0.35 kobo to close at N15.30 per share. Cadbury gained 0.20 kobo to close at N11.40 per share. Champion Breweries, and Custodian & Allied Insurance each garnered 0.18 kobo to close at N2.16 and N3.93 per share respectively.Eterna Oil, and Access Bank each appreciated by 0.04 kobo to close at N3.98 and N9.74 per share respectively.

Consequently, market capitalisation fell by N67 billion or 0.5 per cent from N12.805 trillion recorded on Monday to N12.738 trillion. Similarly, the All-share index slides by 192.53 points from 36,792.60 to 36,600.07. Investors exchanged 257 million shares worth N3.2 billion in 3,43 deals, higher than a total of 208.71 million units valued at N2.45 billion transacted in 2,993 deals on Monday.

Tantalizers dominated in volume terms with 43 million shares worth N21.9 million, while Fidelity Bank followed with 35 million units worth N56 million. First City Monument Bank accounted for 29 million units valued at N33.5 million.Zenith Bank traded 27 million shares worth N680 million. FBN Holding exchanged 15 million shares valued at N104 million.

By Helen Oji

The Guardian Newspaper November 22nd, 2017

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